Reliance Communications chairman Anil Ambani on Thursday met Finance Minister P Chidambaram and senior DoT officials, even as his company started examining the books of Hutchison Essar Ltd for a possible bid.
Arun Sarin is the chief executive officer of Vodafone Group Plc, the United Kingdom-based global mobile operator.
Reliance Communications has sought government approval for sponsoring a secondary Global Depository Receipts offering of up to $1.2 billion, representing 6.53 per cent of the total paid-up equity shares of the company.
Hutchison has made it clear to prospective bidders that it can sell its 67 per cent stake in Hutchison Essar without offering the first right of refusal to the Ruias who hold the remaining 33 per cent in the joint venture.
Company targets sale of one million handsets a year.
Reliance Communications is in discussions with American billionaire and financier George Soros to raise funds for the Hutch-Essar acquisition.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Walt Disney finds another platform for its cartoons -- your mobile.
The NSE Nifty ended down 22 points at 4,264.
The NSE Nifty ended up 7 points at 4,259.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
J M Morgan Stanley and UBS Securities have suggested that Reliance Communication Ventures has surpassed Bharti Airtel in terms of average usage but had lower revenue per subscriber.
Anil Ambani-controlled Reliance Communication Ventures Ltd, whose market cap has touched Rs 65,000 crore
At a session with analysts last Monday, RComm chairman Anil Ambani said the Rs 10,000 crore (Rs 100 billion) investments would be used for network expansion.
Following Reliance Communications' move to break the sub-Rs 1,000 price barrier in the black and white CDMA sets, mobile phone manufacturers are working hard to break the sub-Rs 2,000 barrier for GSM colour mobile phones.
Anil Ambani-controlled Reliance Communication Ventures Ltd has become an over Rs 90,000 crore (Rs 900 billion) company going by the conversion price of its just concluded Foreign Currency Convertible Bonds.
The telecom services provider had a net profit of Rs 1,395.14 crore (Rs 13.95 billion) in the third quarter of FY'08, RCom said in a filing to the Bombay Stock Exchange. RCom's total income rose by 18.75 per cent to Rs 5,671.82 crore (Rs 56.71 billion) for the quarter under review from Rs 4,776.26 crore (rs 47.76 billion) in the corresponding period last fiscal.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
The company had posted net profit of Rs 156 crore a year ago.
The Sensex opened with a positive gap of 61 points at 16,782. It finally ended with a gain of 405 points at 17,126. Bharti Airtel zoomed 9.6% to Rs 925 and RCom soared 8.3% to Rs 577. ICICI Bank surged 4.5%, HDFC and SBI rallied 4% each, Satyam, NTPC and Larsen & Toubro were up over 1% each and ITC, ONGC, R-Energy, Wipro, Tata Steel, BHEL and M&M were other gainers. ACC dropped nearly 2% to Rs 783 while Maruti and DLF were down around 1%.
Reliance Communication Ventures on Monday got listed at the Bombay Stock Exchange opening strongly at Rs 290 a share.
Ambani said Jio will offer the world's lowest data tariff
The website will now be repositioned as an e-commerce portal such as eBay.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Telcos may hike mobile rates to recover spectrum cost: Moody's
The proposals cleared by the DAC include new-generation anti-tank mines, air defence tactical control radar, heavy-weight torpedoes, medium-range maritime reconnaissance and multi-mission maritime aircraft, flight refueller aircraft and software-defined radios.
Reliance Jio has suggested an alternative plan to the The Telecom Regulatory Authority of India (Trai) under which spectrum required by non-geostationary orbit satellite (NGSO) operators to run their gateway terminals should be auctioned geographically, based on districts, rather than circles as done for mobile services. For spectrum which would be required to connect user terminals (like individual homes), Jio has suggested it should be auctioned frequency-wise and exclusively to an operator at a pan-India level. The move is significant as the auctioning of satellite space spectrum has been vehemently opposed by low earth orbit satellite operators (satellites which circle at low altitudes of 200-2000 km).
